Running your own videography business—whether you film weddings, corporate events, or create content for social media—means you’re not just behind the camera. You’re managing income, tracking expenses, and planning for your future too. If you’re thinking about ways to save for retirement and cut down on taxes, a Solo 401k might be worth a look.
In this guide, we’ll cover who usually qualifies, how the plan works, and why it could be a smart option for self-employed videographers like you.
Looking to Open a Solo 401k Plan?
Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks.
GET STARTEDSolo 401(k) eligibility and contribution limits depend on IRS rules. Carry does not provide tax advice, consult a tax advisor. Carry Advisors LLC, an SEC-registered investment adviser, provides investment advisory services for discretionary and non-discretionary accounts (e.g., Solo 401(k), IRA, taxable brokerage accounts). Bank and trust accounts are not advised by Carry Advisors. Brokerage accounts are introduced by Global Carry LLC and carried by DriveWealth LLC, both members FINRA/SIPC. Advisory fees may apply and additional disclosures are described in our Form ADV and CRS.
Do Videographers Qualify for a Solo 401k?
Yes — in most cases. Self-employed videographers without full-time staff may be eligible for a Solo 401k. Also known as a one-participant 401k, this plan is designed for individuals who:
- Operate solo as a sole proprietor, single-member LLC, partnership, or S corporation
- Earn ordinary income from video shoots, editing services, licensing fees, or related work
- Do not employ anyone who works for 1,000 hours or more per year (other than a spouse)
📝 Note: If you hire a full-time employee in the future, the plan must generally convert to a standard 401k and cover them.
Basic Solo 401k Requirements for Videographers
To set up a Solo 401k, you typically need:
✅ Self-Employment Earnings: Income reported on Schedule C (for sole proprietors) or via W-2 wages if you’re an S corporation owner.
✅ No Full-Time Employees: Only your spouse may participate if they also earn from the business.
✅ Eligible Structure: Operate as a sole proprietor, LLC, partnership, or corporation without full-time staff.
📌 Also Read: Important Forms for Solo 401k Owners
Key Benefits of a Solo 401k for Videography Businesses
Videographers may find these features helpful:
1) Potential for Higher Contribution Limits
As both the employee and employer, you can contribute in both roles—potentially allowing you to save more than with other retirement plans.
📝 Note: Limits are based on net earnings after deducting one-half of your self-employment tax and any plan contributions.
2) Traditional and Roth Options
- Traditional Solo 401k: Pre-tax employee contributions may reduce your taxable income today. Withdrawals in retirement are taxed as ordinary income.
- Roth Solo 401k: Contributions are made after taxes. Qualified withdrawals in retirement are generally tax-free.
📝 Note: Your decision may depend on your current income and expected tax rate in retirement.
3) Access to Almost Any Asset Type
Depending on your provider, a Solo 401k may allow you to invest in mutual funds, ETFs, stocks, bonds, and in some cases, alternative assets like real estate.
📝 Reminder: Follow IRS rules carefully to avoid prohibited transactions.
4) Spousal Participation
If your spouse contributes to the business through production, editing, or operations, they can join the plan as a separate participant. Together, you could boost your combined contribution, subject to each person’s limits.
📝 Note: Plans exceeding $250,000 in assets generally require an annual Form 5500-EZ filing.
📌 Also Read: How to Add Your Spouse to Your Solo 401k Plan
2025 Solo 401k Contribution Limits
For 2025, the IRS has set these guidelines:
✅ Employee Contributions: Up to $23,500
✅ Catch-Up (Age 50 or Older): Additional $7,500, for a total of $31,000
✅ Employer Contributions: Up to 25 percent of your compensation
✅ Combined Contribution Limit: $70,000 total, or $77,500 with catch-up
📝 Keep in Mind: The income needed to max out these limits may vary by entity:
- Net Income (Sole Proprietors): Based on Schedule C earnings after self-employment tax
- Net Adjusted Income (S Corporations): Based on W-2 wages
- Gross Income After SE Tax Deductions: Relevant for sole props and partnerships
📌 Also Read: What Are The Different Types Of Business Entities?
Key Takeaways: Is a Solo 401k Right for Videographers?
A Solo 401k could offer a way to set aside meaningful dollars for retirement, with tax-smart options and broad investment flexibility. It may be especially useful for solo videographers with steady income and long-term savings goals.
That said, it generally requires some administrative work, such as IRS filings when your plan grows, and ongoing compliance.
Whether it’s the right fit depends on your long-term goals, income level, and business structure. It may be helpful to consult a qualified tax or financial professional to help you decide if this strategy aligns with your situation.
📌 Also Read: How to Open a 401k Without An Employer
Disclaimer:
The Carry Learning Center is operated by The Vibes Company Inc. (“Vibes”) and contains generalized educational content about personal finance topics. While Vibes provides educational content and technology services, all investment advisory services discussed on this website are provided exclusively through its wholly-owned subsidiary, Carry Advisors LLC (“Carry Advisors”), an SEC registered investment adviser. The information contained on the Carry Learning Center should not be construed as personalized investment advice and should not be considered as a solicitation to buy or sell any security or engage in a particular investment, accounting, tax or legal strategy. Vibes is not providing tax, legal, accounting, or investment advice. You should consult with qualified tax, legal, accounting, and investment professionals regarding your specific situation.
The accounts, strategies and/or investments discussed in this material may not be suitable for all investors. All investments involve the risk of loss, and past performance does not guarantee future results. Investment growth or profit is never a guarantee. All statements and opinions included on the Carry Learning Center are intended to be current as of the date of publication but are subject to change without notice.
To access investment advisory services through Carry Advisors, you must be a client of Vibes on an eligible membership plan. For more information about Carry Advisors’ investment advisory services, please see our Form [ADV Part 2A] (https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=916200) brochure and [Form CRS] (https://reports.adviserinfo.sec.gov/crs/crs_323620.pdf) or through the SEC’s website at [www.adviserinfo.sec.gov] (http://www.adviserinfo.sec.gov/).